The spread between HRC and prime scrap prices widened considerably this month, according to Steel Market Update's most recent pricing data. The post HRC, Prime Scrap Gap Widens in November appeared first on Steel Market Update.
Domestic scrap prices rose in November month over month for all grades that SMU covers, market sources said. The post US Scrap Tags Up in November, Momentum Could Carry Into February appeared first on Steel Market Update.
The iron and steel foundry industries consume about 17% of the ferrous scrap in the US each year. They purchase several grades of scrap in common with steelmakers, such as shredded and turnings. But, most of the grades are much more restrictive than what larger mills require. The post Ferrous Scrap: The Iron Foundry Market appeared first on Steel Market Update.
Steel Dynamics Inc. (SDI) scrap subsidiary OmniSource has acquired a 55-acre rail-served tract near the Port of Houston to expand its metal recycling operations along the Gulf Coast. The post SDI Subsidiary OmniSource Buys Site Near Houston appeared first on Steel Market Update.
The LME aluminum three-month price was unchanged on the morning of Nov. 3 and was seen trading at $2,235 per tonne. The post CRU Aluminum: Scrap Flows Remain Global Issue as Market Prepares for 2024 appeared first on Steel Market Update.
A large Detroit-area scrap buyer has settled scrap prices for November, with busheling, shredded, and plate and structurals (P&S) all notching gains vs. October, a scrap source told SMU. The post November Scrap Prices Up at Large Detroit-Area Buyer appeared first on Steel Market Update.
The announcement that Republic Steel in Canton, Ohio, is going to permanently cease operations disappointed many scrap suppliers in Ohio and Pennsylvania. The post Ferrous Scrap: Republic Steel Closing – End of an Era appeared first on Steel Market Update.
The ferrous export market in the US has experienced several geopolitical events and natural disasters during 2023. The post Ferrous Scrap: Export Market Report appeared first on Steel Market Update.
SMU’s Current and Future Steel Buyers Sentiment Indices both increased this week, based on our most recent survey data. Every other week we poll steel buyers about sentiment. The Steel Buyers Sentiment Indices measure how steel buyers feel about their company’s chances of success in the current market, as well as three to six months down the road. We have historical data going back to 2008. Check our interactive graphing tool here. The post SMU Survey: Buyers Sentiment Indices Rise appeared first on Steel Market Update.
Radius Recycling thinks that an end to the UAW strike could relieve pressure on a tight domestic scrap market. Scrap supplies have fallen because of lower manufacturing, construction, and demolition activity as well as “the slowing economy overall,” Radius chairman, president, and CEO Tamara Lundgren said. Inflation and higher interest rates have contributed to that […] The post Radius Recycling Optimistic Despite Tight Market appeared first on Steel Market Update.